DAVENPORT & Co LLC Decreases Stock Holdings in Janus International Group, Inc. (NYSE:JBI)

DAVENPORT & Co LLC cut its stake in shares of Janus International Group, Inc. (NYSE:JBI - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,155,493 shares of the company's stock after selling 108,365 shares during the quarter. DAVENPORT & Co LLC owned 2.25% of Janus International Group worth $22,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of JBI. Rhumbline Advisers lifted its position in Janus International Group by 10.4% during the fourth quarter. Rhumbline Advisers now owns 202,886 shares of the company's stock valued at $1,491,000 after purchasing an additional 19,069 shares during the last quarter. Principal Financial Group Inc. lifted its position in Janus International Group by 15.0% during the fourth quarter. Principal Financial Group Inc. now owns 210,375 shares of the company's stock valued at $1,546,000 after purchasing an additional 27,499 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Janus International Group by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 468,691 shares of the company's stock valued at $3,445,000 after purchasing an additional 18,432 shares during the last quarter. US Bancorp DE raised its stake in shares of Janus International Group by 108.8% during the fourth quarter. US Bancorp DE now owns 5,601 shares of the company's stock worth $41,000 after acquiring an additional 2,918 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Janus International Group during the fourth quarter worth approximately $6,797,000. 88.78% of the stock is currently owned by institutional investors.

Janus International Group Price Performance

Shares of JBI stock traded up $0.01 during trading hours on Friday, hitting $8.99. 516,221 shares of the company's stock were exchanged, compared to its average volume of 1,886,432. The company has a market capitalization of $1.26 billion, a PE ratio of 25.69 and a beta of 1.24. Janus International Group, Inc. has a 12-month low of $5.99 and a 12-month high of $15.24. The business's 50 day simple moving average is $8.11 and its 200-day simple moving average is $7.77. The company has a current ratio of 2.59, a quick ratio of 2.21 and a debt-to-equity ratio of 1.03.

Janus International Group (NYSE:JBI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. Janus International Group had a net margin of 5.49% and a return on equity of 13.38%. The firm had revenue of $210.50 million for the quarter, compared to the consensus estimate of $200.73 million. During the same period last year, the firm posted $0.21 earnings per share. The business's revenue was down 17.3% compared to the same quarter last year. On average, equities research analysts anticipate that Janus International Group, Inc. will post 0.54 earnings per share for the current year.

Janus International Group declared that its Board of Directors has approved a stock repurchase program on Thursday, May 15th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Separately, KeyCorp lifted their price target on shares of Janus International Group from $9.00 to $10.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Janus International Group currently has a consensus rating of "Hold" and an average target price of $10.00.

Janus International Group Company Profile

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.